Report: Snapchat talks $10B valuation with Alibaba

Snapchat, an app that lets users send messages that disappear after a few seconds, is in talks with investors, including Alibaba Group Holding Ltd, for financing that could value the company at $10 billion, Bloomberg reported.

The terms of the funding may change, Bloomberg said, citing people with knowledge of the matter.

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Entrance to Snapchat's headquarters in Venice, Calif.

Neither Snapchat nor Alibaba were immediately available for comment when contacted by Reuters.

Snapchat, popular with teenage users, turned down a $3 billion acquisition offer from Facebook Inc last year, the Wall Street Journal reported in November.